botswana
-
Delayed for over a year, Choppies FY2018 annual report makes for grim reading
During mid-December, Choppies finally published its financial results for the 12 months to June 2018 (FY2018). The Botswanan retailer’s losses deepened during the year, from an upwardly revised BWP169.8 million (USD16.9 million) in FY2017 to BWP444.5 million (USD44.2 million) during FY2018. Auditor PwC refused to sign off on its accounts, stating that “We have not
16th January 2020
Categories: SagaRetail News - Retail - Supermarkets - Botswana
-
Fighting for survival, Choppies prepares to exit South Africa
Botswana-based Choppies, which at its peak operated more than 240 supermarkets in eight countries across Southern and Eastern Africa, has agreed the sale of its South African operations to Kind Investments Proprietary Limited for ZAR1 (USD0.07), including the assumption of all of the subsidiary’s debts. The deal is expected to close by February 2020. As
5th December 2019
Categories: SagaRetail News - Retail - Supermarkets - Africa - Botswana - Kenya - Tanzania - Zambia - Zimbabwe - South Africa
-
Choppies boardroom coup fuels nervousness among suppliers
Mired in an accounting scandal, supermarket chain Choppies suspended CEO Ramachandran Ottapathu last week, but this move does not seem to have gone done well with some of its suppliers, amid media reports of empty shelves in some of its outlets. Botswana-based Choppies operates around 250 stores across eight sub-Saharan countries, and Ottapathu, who has
28th May 2019
Categories: SagaRetail News - Retail & Shopping Malls - Botswana - Kenya
-
South African variety store chain looks north for growth
Miniso is not the only variety-store chain seeking to expand in the sub-Saharan market. South Africa-based discount variety chain The Crazy Store currently has 347 stores, including 14 in Namibia and two in Botswana, with more on the way in both countries and longer term plans to expand into other sub-Saharan markets. Having opened its
5th September 2018
Categories: SagaRetail News - Consumer - Retail & Shopping Malls - Botswana - Namibia